Business Degree Marketing Principles 2

Question 1

What is 'penetration pricing'?

Accepted Answer

Setting a low initial price to quickly gain market share

Answer

Setting a high price to signal premium quality

Answer

Pricing products just below competitor prices

Answer

Adjusting prices based on demand fluctuations

Question 2

What is a 'SWOT analysis' used for in marketing?

Accepted Answer

Assessing internal strengths/weaknesses and external opportunities/threats

Answer

Calculating return on marketing spend

Answer

Forecasting quarterly sales revenue

Answer

Mapping the customer purchase journey

Question 3

What is 'content marketing'?

Accepted Answer

Creating and distributing valuable content to attract and retain a target audience

Answer

Paying influencers to promote products on social media

Answer

Broadcasting TV commercials during peak viewing hours

Answer

Placing banner ads on high-traffic websites

Question 4

In the product life cycle, which stage is characterized by rapid sales growth and rising profits?

Accepted Answer

Growth

Answer

Introduction

Answer

Maturity

Answer

Decline

Question 5

What does 'positioning' mean in marketing?

Accepted Answer

Designing how a brand or product is perceived relative to competitors in consumers' minds

Answer

Placing products on store shelves at eye level

Answer

Selecting the geographic markets to enter

Answer

Negotiating shelf space with retailers

Question 6

What is 'push' strategy in marketing channel management?

Accepted Answer

Pushing promotional efforts toward intermediaries like wholesalers and retailers to stock the product

Answer

Using social media to pull customers to a website

Answer

Promoting a product directly to consumers to create demand that pulls it through the channel

Answer

Reducing prices to push slow-moving inventory